Welcome! Dear Traders,you are reading my forex trading experiences. Forex trading is a very profitable and very risky business opportunity. If you are a beginner, calm down,have a cup of coffee, and convince yourself that you need to study hard to win in forex trading. Obviously, the task is not easy as the statistics claim that only 5% traders win in forex trading. If you are determined, serious,and hard working, you can surely be included in the group of winners.

TRADING FOREX WITH ASCENDING TRIANGLE CHART PATTERN

Ascending triangle pattern on currency pair chart has a flat top and a rising lower line. Rising lower line shows that the pair getting support at upper and upper price level. To draw a ascending triangle pattern we must have two highs and two lows.

The flat top represents the resistance levels. When the chart break out the flat top the currency can be bought. The break out indicates that the buy pressure in the market has forced the pair to break the resistance level.
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Above image shows how ascending triangle chart pattern drawn on the chart of NZD/USD currency pair.While buying with the ascending triangle chart pattern, the stop loss can be put at the previous support point or at the rising lower line.Ascending triangle chart pattern can be drawn on charts in different time frames.

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